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Description
The PowerShares DB Commodity Double Long Exchange Traded Note (Symbol: DYY),
PowerShares DB Commodity Long Exchange Traded Note (Symbol: DPU), PowerShares DB
Commodity Short Exchange Traded Note (Symbol: DDP) and PowerShares DB Commodity
Double Short Exchange Traded Note (Symbol: DEE) (collectively, the "PowerShares
DB Commodity ETNs") are the first U.S. exchange-traded products that provide
investors with a cost- effective and convenient way to take a long, short or
leveraged view on the performance of a broad-based commodity index.
All of the PowerShares DB Commodity ETNs are based on a total return version of
the Deutsche Bank Liquid Commodity IndexTM. The Long and Double Long ETNs are
based on the Optimum YieldTM version of the Index. The Short and Double Short
ETNs are based on the standard version of the Index. Each index is intended to
track the long or short performance of the underlying futures contracts relating
to six commodities: wheat, corn, light sweet crude oil, heating oil, gold and
aluminum.
Investors can buy and sell the PowerShares DB Commodity ETNs at market price on
the NYSE Arca exchange or receive a cash payment at the scheduled maturity or
early repurchase based on the month-over-month performance of the index less
investor fees. Investors may redeem the PowerShares DB Commodity ETNs in blocks
of no less than 200,000 securities and integral multiples of 50,000 securities
thereafter, subject to the procedures described in the pricing supplement, which
may include a fee of up to $0.03 per security.
Fact Sheet
Prospectus
Index History(1)
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Source: DB / Bloomberg
Long Index Weights
As Of: 06-Jan-2011
Contract Contract Expiry Date Weight %
Light Crude 21-Jun-2011 35.38
Heating Oil 31-May-2011 20.31
Corn 14-Dec-2011 10.93
Gold 29-Aug-2011 9.53
Aluminium 21-Sep-2011 12.63
Wheat 14-Jul-2011 11.23
Short Index Weights
As Of: 06-Jan-2011
Contract Contract Expiry Date Weight %
Aluminium 21-Dec-2011 12.58
Corn 14-Dec-2011 10.95
Gold 28-Dec-2011 9.72
Heating Oil 31-Jan-2011 8.19
Heating Oil 28-Feb-2011 12.28
Light Crude 20-Jan-2011 13.89
Light Crude 22-Feb-2011 20.89
Wheat 14-Dec-2011 11.5
Tax Information Exchange Traded Notes DBX Strategic
DEE Financial Details
Ticker: DEE
Last Update 07-Jan-2011
01:10 PM
Price 36.55
DEE Index Level* 417.31664
Indicative Intra-day 36.86
Value**
Last end of day 36.31489
Value ***
Last date for end 06-Jan-2011
of day Value
Data Source: www.nyse.com
(Data delayed 20 minutes)
* Indicative intra-day and Index closing
** Indicative intra-day value of the DEE
*** Last end of day DEE RP
DYY Financial Details
Ticker: DYY
Last Update 07-Jan-2011
01:10 PM
Price 9.61
DYY Index Level* 536.50281
Indicative Intra-day 9.58
Value**
Last end of day 9.80055
Value ***
Last date for end 06-Jan-2011
of day Value
Data Source: www.nyse.com
(Data delayed 20 minutes)
* Indicative intra-day and Index closing
** Indicative intra-day value of the DYY
*** Last end of day DYY RP
DDP Financial Details
Ticker: DDP
Last Update 07-Jan-2011
01:10 PM
Price 32.97
DYY Index Level* 417.31664
Indicative Intra-day 33.38
Value**
Last end of day 33.13382
Value***
Last date for end 06-Jan-2011
of day Value
Data Source: www.nyse.com
(Data delayed 20 minutes)
* Indicative intra-day and Index closing
** Indicative intra-day value of the DDP
*** Last end of day DDP RP
DPU Financial Details
Ticker: DPU
Last Update 07-Jan-2011
01:10 PM
Price 17.71
DPU Index Level * 536.50281
Indicative Intra-day 17.49
Value **
Last end of day 17.68353
Value***
Last date for end 06-Jan-2011
of day Value
Data Source: www.nyse.com
(Data delayed 20 minutes)
* Indicative intra-day and Index closing
** Indicative intra-day value of the DPU
*** Last end of day DPU RP
Contact Information
Any questions please call
1-877-369-4617

Deutsche Bank Commodities Notes
DB Commodity ETN and Index Data
DB Commodity ETN Symbols
Commodity Double Short DEE
Commodity Double Long DYY
Commodity Short DDP
Commodity Long DPU
Details
ETN price at initial listing $25.00
Inception date 4/28/08
Maturity date 4/1/38
Yearly investor fee 0.75%
Listing exchange NYSE Arca
Standard DB Commodity DBLCMACL
Index symbol
OY(TM) DB Commodity Index DBLCOYER
symbol
CUSIP symbols
Commodity Double Long 25154H475
Commodity Long 25154H459
Commodity Short 25154H467
Commodity Doubl Short 25154H483
Intraday Intrinsic Value Symbols
Commodity Double Short DEEIV
Commodity Double Long DYYIV
Commodity Short DDPIV
Commodity Long DPUIV
Risks(2)
o Non-principal protected
o Leveraged losses
o Subject to an investor fee
o Limitations on repurchase
o Concentrated exposure to commodities
Benefits
o Leveraged and short notes
o Relatively Low Cost
o Intraday access
o Listed
o Transparent
o Tax treatment(3)
Issuer Details
Deutsche Bank AG, London Branch Long-term Unsecured Obligations(2)
(1)ETN performance figures are based on repurchase value. Repurchase value is
the current principal amount x applicable index factor x fee factor. See the
prospectus for more complete information. Index history is for illustrative
purposes only and does not represent actual PowerShares DB Commodity ETN
performance. The inception date of the Deutsche Bank Liquid Commodity Index
(DBLCI) is Jan. 12, 2004. The inception date of the Index's Optimum Yield
version is May 24, 2006. ETN Performance is based on a combination of the
monthly returns from the relevant commodity index plus the monthly returns from
the DB 3-Month T-Bill Index (the "T-Bill Index"), resetting monthly as per the
formula applied to the PowerShares DB Commodity ETNs, less the investor fee. The
Long and Double Long ETNs are based on the Deutsche Bank Liquid Commodity Index
- -- Optimum YieldTM, and the Short and Double Short Commodity ETNs are based on
the standard version of the Deutsche Bank Liquid Commodity Index (the "Commodity
Indexes"). The T-Bill Index is intended to approximate the returns from
investing in 3-month United States Treasury bills on a rolling basis.
Index history does not reflect any transaction costs or expenses. Indexes are
unmanaged, and you cannot invest directly in an index. PAST PERFORMANCE DOES NOT
GUARANTEE FUTURE RESULTS.
(2)The PowerShares DB Commodity ETNs are senior unsecured obligations of
Deutsche Bank AG, London Branch, and the amount due on the PowerShares DB
Commodity ETNs is dependent on Deutsche Bank AG, London Branch's ability to pay.
The PowerShares DB Commodity ETNs are riskier than ordinary unsecured debt
securities and have no principal protection. Risks of investing in the
PowerShares DB Commodity ETNs include limited portfolio diversification,
uncertain principal repayment, trade price fluctuations, illiquidity and
leveraged losses. Investing in the PowerShares DB Commodity ETNs is not
equivalent to a direct investment in the index or index components. The investor
fee will reduce the amount of your return at maturity or upon redemption of your
PowerShares DB Commodity ETNs even if the value of the relevant index has
increased. If at any time the redemption value of the PowerShares DB Commodity
ETNs is zero, your Investment will expire worthless.
The PowerShares DB Commodity Double Long ETN and PowerShares DB Commodity Double
Short ETN are both leveraged investments. As such, they are likely to be more
volatile than an unleveraged investment. There is also a greater risk of loss of
principal associated with a leveraged investment than with an unleveraged
investment.
The PowerShares DB Commodity ETNs may be sold throughout the day on NYSE Arca
through any brokerage account. There are restrictions on the minimum number of
PowerShares DB Commodity ETNs that you may repurchase directly from Deutsche
Bank AG, London Branch, as specified in the applicable pricing supplement.
Ordinary brokerage commissions apply, and there are tax consequences in the
event of sale, redemption or maturity of the PowerShares DB Commodity ETNs.
Sales in the secondary market may result in losses.
The PowerShares DB Commodity ETNs are concentrated in commodity futures
contracts. The market value of the PowerShares DB Commodity ETNs may be
influenced by many unpredictable factors, including, among other things,
volatile prices, changes in supply and demand relationships, changes in interest
rates, and monetary and other governmental actions. For a description of the
main risks, see "Risk Factors" in the applicable pricing supplement.
Not FDIC Insured -- No Bank Guarantee -- May Lose Value
(3)Deutsche Bank AG, London Branch, Invesco PowerShares and their affiliates do
not provide tax advice and nothing contained herein should be construed to be
tax advice. Please be advised that any discussion of U.S. tax matters contained
herein (including attachments) (i) is not intended or written to be used, and
cannot be used, by you for the purpose of avoiding U.S. tax related penalties
and (ii) was written to support the promotion or marketing of the transactions
or matters addressed herein. Accordingly, you should seek advice based on your
particular circumstances from an independent tax advisor.
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.dbfunds.db.com/notes or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
Important Risk Considerations:
The PowerShares DB Commodity ETNs are not suitable for all investors and should
be utilized only by sophisticated investors who understand leverage risk and the
consequences of seeking monthly leveraged investment results, and who intend to
actively monitor and manage their investments. Investing in the ETNs is not
equivalent to a direct investment in the index or index components because the
current principal amount (the amount you invested) is reset each month,
resulting in the compounding of monthly returns. The principal amount is also
subject to the investor fee, which can adversely affect returns. The amount you
receive at maturity (or upon an earlier repurchase) will be contingent upon each
monthly performance of the index during the term of the securities. The ETNS are
not designed to be long-term investments and may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date. There is no guarantee that you will receive at maturity, or
upon an

earlier repurchase, your initial investment back or any return on that
investment. Significant adverse monthly performances for your securities may not
be offset by any beneficial monthly performances.
The PowerShares DB Commodity ETNs are senior unsecured obligations of Deutsche
Bank AG, London Branch, and the amount due on the PowerShares DB Commodity ETNs
is dependent on Deutsche Bank AG, London Branch's ability to pay. The
PowerShares DB Commodity ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
The PowerShares DB ETNs are not suitable for all investors and should be
utilized only by sophisticated investors who understand leverage risk and the
consequences of seeking monthly leveraged investment results, and who intend to
actively monitor and manage their investments. Investing in the PowerShares DB
ETNs is not equivalent to a direct investment in the index or index components
because the current principal amount (the amount you invested) is reset each
month, resulting in the compounding of monthly returns. The principal amount is
also subject to the investor fee, which can adversely affect returns. The amount
you receive at maturity (or upon an earlier repurchase) will be contingent upon
each monthly performance of the index during the term of the securities. There
is no guarantee that you will receive at maturity, or upon an earlier
repurchase, your initial investment back or any return on that investment.
Significant adverse monthly performances for your securities may not be offset
by any beneficial monthly performances.
Certain marketing services may be provided for these products by Invesco Aim
Distributors, Inc. or its affiliate, Invesco PowerShares Capital Management LLC.
Neither firm is affiliated with Deutsche Bank.
PowerShares[R] is a registered trademark of Invesco PowerShares Capital
Management LLC. Invesco PowerShares Capital Management LLC and Invesco Aim
Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.
An investor should consider the PowerShares DB ETNs' investment objective,
risks, charges and expenses carefully before investing.
http://dbfunds.db.com/dev/notes/Commodities/index.aspx
1/7/2011